Veteran Bitcoin Holder Executes First Outbound Transaction in Over a Decade
In a surprising turn of events, a dormant Bitcoin address, last active in 2011, has initiated its first external transfer since then, moving 50 BTC. This development has sent ripples through the Bitcoin community, with experts closely monitoring the event for potential effects on Bitcoin liquidity and prices.
The receiving address, "bc1q5," has a history of interactions with major players in the cryptocurrency industry, such as Coinbase and Galaxy Digital. This has sparked industry speculations of institutional involvement in the transaction. However, no official confirmations have surfaced from involved entities regarding the transfer, which took place on November 11, 2021.
Interestingly, the transaction is linked to another dormant address, "bc1qsea3m," which has been inactive since 2011. The identity of the dormant Bitcoin whale remains unknown, and the coins were simply moved to new addresses by the inactive entity.
The historic movement of the Bitcoin whale has raised questions about potential OTC (over-the-counter) sales or custody arrangements. CoinCu research indicates that potential shifts in Bitcoin liquidity could occur if the dormant whale pursues sales through institutional channels.
At the time of writing, Bitcoin dominates the cryptocurrency market by 60.74%. The digital asset has seen a 22.49% increase in the past 90 days, though it faced a 2.84% decline in the last 24 hours. The current price of Bitcoin is $115,582.90, with a market cap of $2.30 trillion.
As the Bitcoin community awaits further developments, the market continues to watch with bated breath, anticipating potential impacts on the world's largest cryptocurrency. The mystery of the dormant Bitcoin whale adds an intriguing layer to the ever-evolving world of cryptocurrency.
